Southern Illinois Power Cooperative
Nonprofit profile at a glance
- EIN
- 370801403
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Marion, IL, USA
- Phone
- (618) 964-1448
- Rating confidence
- Limited
Reported finances
- Revenue
- $194,965,826
- Expenses
- $188,487,999
- Assets
- $659,211,937
- Liabilities
- $508,551,921
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
41 people listed
Executive titles in this filing
- PAUL FURTAK (PRESIDENT & CEO)
- ASHLEY MCCUAN (VICE PRESIDENT OF POWER SU)
Highest reported compensation
- PAUL FURTAK (PRESIDENT & CEO): $680,716 total reported compensation
- WENDELL WATSON (DIRECTOR OF ENVIRONMENTAL): $358,772 total reported compensation
- LARRY BURNS (VP MARKETS & POWER DELIVERY): $344,053 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
That our members benefit from their ownership in SIPC – a financially sound, highly reliable, reasonably-priced electric power supply system with a cost-effective, diversified portfolio of generation and transmission assets that they own and control.
What it reported doing in 2024
Generate and transmit electricity to member distribution cooperatives.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 82
- Accountability: 100
- Sustainability: 55
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 3.3%; rating input score 49; 49th percentile among comparable filings
- Total-asset coverage ratio: 3.5; rating input score 79; 79th percentile among comparable filings
- Liabilities to assets ratio: 0.77; rating input score 18; 18th percentile among comparable filings
- Officer compensation ratio: 2.1%; rating input score 53; 53rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 0.7% per year; rating input score 100; 7th percentile among comparable filings
- Asset growth: -1.6% per year; rating input score 0; 5th percentile among comparable filings
Details
- What they do: 3 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 28 of 28 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $681K · 41 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $7.5M reported
- Consistency: 12 of 12 current checks pass
- Schedules: 3 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 34 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 49/100.
- High — Sustainability: Liabilities to assets ratio scored 18/100.
- Review — Sustainability: Officer compensation ratio scored 53/100.